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Cryogenic Tanks Market Saga: Unraveling the Intricacies of Liquid Oxygen Preservation
Cryogenic tanks are vacuum insulated vessels used for storing cryogenic liquids such as liquid nitrogen, liquid oxygen, liquid argon, liquid carbon dioxide and liquid hydrogen at very low temperatures. They are primarily used in several industrial applications such as metal manufacturing, energy & power, electronics, medical technology, food & beverage and shipping. Cryogenic tanks play a vital role in ensuring safe and efficient transportation along with storage of industrial gases. The global Cryogenic Tanks Market is estimated to be valued at US$ 6.51 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The growing demand for industrial gases from various end-use industries such as healthcare, energy & power, food & beverage and metal manufacturing is expected to drive the growth of cryogenic tanks market over the forecast period. Industrial gases like oxygen, nitrogen and argon find wide applications in the manufacturing processes of these industries. Moreover, the demand for liquified natural gas is also growing significantly owing to rising focus on cleaner sources of fuel. This is expected to increase the need for cryogenic storage and transportation solutions like cryogenic tanks and tankers. The ability of cryogenic tanks to efficiently store industrial gases at very low temperatures makes them ideal for the safe handling and transportation of gases over long distances. Thus, the increasing demand for industrial gases from different industries presents lucrative market opportunities for cryogenic tanks during the forecast period.
Porter's Analysis Threat of new entrants: Moderate, high capital requirements for manufacturing cryogenic tanks act as a barrier. However, growing demand opens opportunities. Bargaining power of buyers: Moderate to high. Large buyers can negotiate on price and demand better service levels. However, specialized nature of tanks reduces impact. Bargaining power of suppliers: Moderate. Major suppliers have established relationships but availability of raw material alternatives provides options. Threat of new substitutes: Low. Cryogenic tanks have few substitutes for storage of liquefied gases in large volumes. Competitive rivalry: High. Global players compete on technology, quality, pricing and services. Regional players add competition.
SWOT Analysis Strengths: Growing liquefied gas market. Established infrastructure and technology leadership of major players. Weaknesses: High capital investment requirements. Volatility in raw material prices impacts costs. Opportunities: Rising adoption in new applications like LNG as fuel. Expanding gases market in developing regions. Threats: Stringent regulations over safety and emissions. Substitution threat from alternative gas storage technologies.
Key Takeaways
The global Cryogenic Tanks Market is expected to witness high growth over the forecast period between 2023 to 2030.Technological advancements for more efficient operations and rising demand for liquefied gases like LNG are driving the market.
Regionally, North America leads currently due to large liquefaction plants and increasing exports of natural gas. Asia Pacific is expected to be the fastest growing market due to massive demand from industries and increasing LNG imports in major economies like China and India. Countries like China, Japan and South Korea are focusing on expanding LNG receiving and regasification terminals which will further accelerate cryogenic tanks demand.
Key players operating in the Cryogenic Tanks market are ArcelorMittal, China Baowu Group, Nippon Steel Corporation, POSCO, Shagang Group, Ansteel Group, Glencore, Sumitomo Metal Mining Company, Linde, INOX India Pvt., Cryofab, FIBA Technologies, Air Products and Chemicals, Inc., M1 Engineering, Chart Industries, Wessington Cryogenics, Isisan, Lapesa, Auguste Cryogenics, and Hoover Ferguson Group, Inc. These companies are focusing on partnerships, new product developments and expansion in high growth regions to strengthen their positions.
#Cryogenic Tanks Market Share#Cryogenic Tanks Market Growth#Cryogenic Tanks Market Demand#Cryogenic Tanks Market Trend#Cryogenic Tanks Market Analysis
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Cryogenic Equipment Market Is Booming Worldwide
The global cryogenic equipment market size stood at USD 17.24 billion in 2021. The market is estimated to rise from USD 18.06 billion in 2021 to USD 32.86 billion by 2028 at 8.9% CAGR during the forecast period. Fortune Business Insights™ has delved into these insights in its latest research report, titled, “Cryogenic equipment Market, 2021-2028.”
According to the analysis increasing investments in LNG power plants and rising focus on processing and manufacturing industries to foster market development. The rising demand for clean energy power is anticipated to boost the market in the near future. The transportation, storage, and regasification applications for generating clean energy hold substantial potential for the growth of the market.
List of Key Companies Profiled in the Market Report:
Chart Industries, Inc. (U.S.)
Cryofab, Inc. (U.S.)
Linde (Germany)
Nikkisso Cryoquip (U.S.)
Nikkiso Co. Ltd (Japan)
SHI Cryogenics Group (Japan)
HEROSE GMBH (Germany)
Wessington Cryogenics (U.K.)
Cryo Pur (France)
INOXCVA (INOX India Pvt Ltd) (India)
Sulzer (Switzerland)
Schlumberger (U.S.)
Flowserve Corporation (U.S.)
Fives (France)
Phpk Technologies (U.S.)
Marshall Excelsior Company (U.S.)
ACME Cryogenics (U.S.)
RegO (U.S.)
Habonim Industrial Valves & Actuators LTD (U.S.)
Impact of COVID-19:
Restrictions on Manufacturing and Transport to Hinder Market Progress
This market is expected to be negatively affected during the COVID-19 pandemic because of the restrictions imposed on manufacturing and transport activities. The sudden spike in COVID-19 infections led to the adoption of stringent norms. This has led to the closure of industries and the lack of raw materials for cryogenic equipment production. However, the adoption of production machinery, advanced sanitization methods, reduced capacities, and half capacities have enabled manufacturers to recover their losses. This factor is expected to boost market growth during the pandemic.
Report Coverage:
The report has been prepared meticulously through quantitative and qualitative assessments to offer a comprehensive market view. Notably, many primary interviews have been conducted with major stakeholders and suppliers. Primary data has been collected through questionnaires, telephonic conversations and emails. Moreover, the report also includes secondary sources, such as government websites, SEC filings and press releases. The report also gives an in-depth view of market size, share, revenue, volume and delves into SWOT analysis.
Drivers and Restraints:
Rising Demand for Clean Energy Source to Bolster Market Expansion
The rising demand for regasification, storage, and transportation of clean energy is expected to boost cryogenic equipment’s demand. The rising demand for LNG fuels for automotive use is expected to increase the equipment’s sales. Further, significant investments in the petrochemical and chemical sectors are likely to boost market growth. Rising usage of refrigerators, pumps, vaporizers, valves, and oil tankers is likely to increase the demand for the equipment. The equipment increases the safety of the fuel and maintains safety.
The rising demand for fuel storage and the rising adoption of renewable energy resources is likely to increase the equipment’s adoption. Moreover, it is also used in the healthcare sector to store blood, package medicines, and purge equipment. These factors are likely to drive the cryogenic equipment market growth.
However, the fluctuating stainless steel prices and stringent green-house emission norms may hinder the market progress.
Competitive Landscape:
Major Players Set Up Facilities to Expand Market Reach Globally
Prominent companies operating in the company set up manufacturing facilities to expand their market reach worldwide. For example, Lide declared that it had set up a novel on-site manufacturing plant in Qinzhou, China, in July 2021. The company shall supply industrial gases and oxygen to Shanghai Huayi's new chemical complex by opening up the plant. The manufacturing plant comprises three air separation units designed to supply 5,000 tons of nitrogen and 7,500 tons per day of oxygen. This strategy may enable the company to expand its market reach. In addition, the adoption of research and development may enable companies to improve their product quality and boost their brand image.
Segmentation:
By product, the market is segmented into bayonet connection, actuator, vaporizer, pump, valve, tank, and others. As per cryogen, it is categorized into helium, hydrogen, liquefied natural gas (LNG), argon, oxygen, nitrogen, and others.
Based on end-user, it is classified into marine, chemical & petrochemical, power generation, metallurgy, oil & gas, and others.
Regionally, it is grouped into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
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Compressed Air Flow Meter Manufacturer and Supplier in Visakhapatnam
Visakhapatnam is one of the oldest and biggest port cities located in the state of Andhra Pradesh in the southern part of India. The city also has one of the finest shipyards and the port has a lot of cargo activity happening throughout the year making it one of the busiest in the country. Many other government industrial establishments are located in the city that contribute to its massive industrial setup.
The city formerly and more commonly known as Vizag is famous for its natural beauty and lovely beaches making it one of the most sought-after tourist destinations of the state. Many temples, monuments and other places of worship in the city add to the historical and religious importance making it a memorable place to visit.
Compressed Air Flow Measurement in Oil and Gas Industry in Visakhapatnam
On the industrial side, there is a massive presence of different government and private companies across sectors like thermal power plants, steel manufacturing, petroleum, pharmaceuticals, fishing and many other industries. The industrial set up across the city has helped in creating numerous job opportunities for the local population and also people from other parts of the country. Besides, there are many small and medium scale industrial units also that are manufacturers and suppliers of various equipment and products in Visakhapatnam.
Compressed air is one of the most important utilities essential to operations in a refinery along with water, natural gas and electricity. Compressed air is required during the execution of many processes in the oil and gas industry. It acts as a medium for the transfer of energy that is required to power different types of equipment. During operation of machinery required for the production of gases and liquids, it helps to control precise measurement and calibration.
From the point where oil and gas are explored from the wells, undergo various processes and transferred to the stage where it can be used for power generation, the application of compressed air is manifold. Hydrocarbons are unearthed as part of exploration after which crude oil is processed and made safe for petrochemical processes. This is subsequently transferred via huge pipes, tankers etc. to the various oil refineries from where it is distributed for market needs like power generation industries. Throughout the different stages of oil and gas applications, the usage of compressed air is extensive.
Measurement of compressed air has to be accurate and reliable in all the processes involved to generate the best results during production, avoid safety hazards and meet all other guidelines as appropriate.
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Cryogenic Pump Market Revenue- Research Report, Demand, Segments, Key Player profile and Regional Outlook by 2030
The global cryogenic pumps market size is predicted to develop at a 4.02% CAGR between 2022- 2030, states the recent Market Research Future (MRFR) analysis. Cryogenic pumps, simply put, are vacuum pumps that help to capture gases via condensing the same on cold surfaces that is at low temperature. Positive displacement and centrifugal are its different types that have wide applications in electronics, metallurgy, chemicals, energy and power, and others.
Various factors are propelling the global cryogenic pumps market share. According to the recent MRFR report, such factors include the increasing use of gases across bioscience and healthcare facilities, growing investments in energy and power, rising investments in oil and gas and electrical and electronics segment, growing adoption of such pumps in the metallurgy sector, demand for LNG based power generation, growing use of oil tankers for transportation in the shipbuilding industry, demand for liquid gases, and growth of medical gases to diagnose and treat different respiratory diseases like cardiovascular, asthma, and others.
On the contrary, the impact of the current COVID-19 pandemic and the fall in steel production are factors that may limit the global cryogenic pumps market growth over the forecast period.
Browse Complete Report Details @ https://www.marketresearchfuture.com/reports/cryogenic-pump-market-7567
Key Players
Key contenders profiled in the global cryogenic pump market report include Technex Limited (India), Ruhrpumpen Inc. (Mexico), PHPK Technologies Inc. (US), Nikkiso Cryo Inc. (US), Cryostar SAS (France), Cryoquip Australia, Brooks Automation (US), Fives S.A. (France), Sumitomo Heavy Industries (Japan), Flowserve Corporation (US), and Ebara Corporation (Japan).
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global cryogenic pumps market based on type, gas, and end use.
By type, the global cryogenic pumps market is segmented into positive displacement and centrifugal. Of these, the positive displacement type segment that will lead the market over the forecast period.
By gas, the global cryogenic pumps market is segmented into LNG, argon, oxygen, and nitrogen. Of these, the LNG gas segment will dominate the market over the forecast period.
By end use, the global cryogenic pumps market is segmented into electronics, metallurgy, chemicals, energy and power, and others. Of these, energy and power end use segment will spearhead the market over the forecast period.
Regional Analysis
By region, the global cryogenic pumps market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), the Middle East and Africa (MEA), and South America. Of these, the APAC region will spearhead the market over the forecast period. Industrial development in Malaysia, India, China, and other Southeast Asian countries, growing energy need, rapid urbanization, focus on renewable generation, focus on eco-friendly sources of fuel like LNG to reduce carbon emissions, and growing demand in different end use industries such as metallurgy, processing, and manufacturing are adding to the global cryogenic pumps market growth in the region.
In Europe, the global cryogenic pumps market is predicted to hold the second-largest share over the forecast period for the shift in focus towards eco-friendly sources of fuel like LNG to reduce carbon emissions and strong growth in the healthcare and food & beverage industry. Spain, Italy, and France have the utmost share in the market for the growing oil and gas, metallurgy, and petrochemicals industry.
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In North America, the global cryogenic pumps market is predicted to have healthy growth over the forecast period for the rising application in the industrial sector and the vast potential of LNG.
In the MEA, the global cryogenic pumps market is predicted to have sound growth over the forecast period for the increasing investments in petrochemical and oil & gas industries.
In South America, the global cryogenic pumps market is predicted to have steady growth over the forecast period.
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The Advantages of Using a Vacuum Pump
A vacuum truck is a specially designed vehicle used for the purpose of waste and water management. Most units have a water delivery hose along with a suction hose. They’re primarily used to suck out debris and other waste materials from grease traps, sewers, septic’s and oil spills. The tank can be made using different materials like mild steel, which is known for its durable properties and stainless steel. It can handle a wide range of waste products. Some companies prefer using tankers made of stainless steel to transport light to heavy industrial waste liquid.
Looking for a Vacuum Pump Manufacturer and Suppliers in India? Check out our best Vacuum Pump Manufacturer and Supplier in India. We offer the best quality Industrial, Dry Pump, Dry Screw Pump & Rotary Vane Vacuum Pump
Vacuum pumps are a versatile piece of laboratory equipment for suctioning via negative pressure. They are routinely used in biological sciences for filtration, distillation and concentration of volatile solvents, solid phase extraction, freeze drying, and more. Even though vacuum pumps share a common function, there are many considerations to take into account when choosing a new pump. The following article will explain some important attributes to look for when comparing different vacuum pumps.
Vacuum Pumps
The two types of pumps that are commonly used on vacuum truck units are vane pumps and liquid ring pumps. Medium to light industrial waste trucks feature liquid ring pumps. These pumps are ideal for suctioning heavy sludge. Vane pumps, on the other hand, are used for the suction of moderate viscosity liquids. Each pump has its own advantages. Choose one based on the type of waste you have to pump and transport.
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Advantages of Using a Vacuum Pump
· You can use a vacuum pump to safely suction and transport mine camp waste.
· The trucks have spill prevention and odor control capabilities. This makes it easier and safer to transport materials like bio solids.
· Vacuum trucks safely transport hazardous waste materials. They protect the environment and prevent people from coming into contact with toxic waste.
· They can quickly and efficiently remove waste from clogged drainage systems and catch basins. They save time by getting the task done faster.
· Some trucks feature tipping tanks, rear doors and power jets. These complex builds are ideal for use in a wide variety of applications.
What type of pump do you need?
First, evaluate which type of pump is best suited to your laboratory needs. Vacuum pumps differ in their design and components, and each type performs best for specific applications. For example, a chemically resistant diaphragm pump is more appropriate for work that involves suction with corrosive solvents, such as solid phase extraction. A rotary vane or gear pump is more appropriate for work that requires a stronger vacuum such as freeze drying or rotary evaporation.
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Oil Free Vacuum Pumps
As the name suggests, oil free pumps use a dry lubricant instead of oil to prevent friction between the internal components. These include piston, diaphragm and scroll pumps. Chemically resistant models are coated with PTFE and are safe to use with most corrosive gases. Applications for oil free pumps include large or small-scale extraction and membrane filtration. These pumps are often portable and low maintenance, but come with a tradeoff in weaker max vacuum power. The Rocker 300 and Rocker 400 are all oil free pumps that will
Work best for filtration applications with noncorrosive solvents. The Lafil 300C, Chemker 300, and Rocker 300C are chemical resistant options for a wider range of vacuum filtration applications.
Rotary Vane Vacuum Pumps
Rotary vane vacuum pumps are oil-sealed and used for lab applications that require a stronger, consistent vacuum pressure below 10-3 mbar. Hydraulic braking systems, freeze dryers, and mass spectrometry typically use rotary vane vacuum pumps. Some drawbacks of oil-sealed pumps involve disposing of toxic oil waste and difficulty finding replacement spare parts. The Tanker series includes several different sized pumps with Tanker 130on the small end and Tanker 230 on the larger end.
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Water Aspirators
Aspirators create suction with negative water pressure. The aspirator is connected to a tap and suction is created through a hose when the tap water flows through a nozzle at high speed. The fluid being aspirated mixes with the waste water into the sink or a separate collection bucket. While aspirators are generally inexpensive and easy to use, they require continuous water flow to run and should not be used with hazardous materials. They are not as strong as a wet or dry vacuum pump, and the performance varies depending on the water flow and temperature. The polypropylene aspirator vacuum pump is an inexpensive, easy to use alternative to an electric pump.
Final considerations
Vacuum pumps are a vital piece of laboratory equipment. Simplify your search by narrowing down the options. First, decide which type of pump will best suit your lab needs by evaluating the required max vacuum, corrosive chemicals, and toxic oil disposal. Then, compare different models based on pump performance (vacuum vs. flow rate), noise level, weight, and cost.
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Cryogenic Fuels Market to be dominated by Manufacturing segment through 2026 – TechSci Research
Increasing demand for surface chilling process of food industry and growing aerospace industry is expected to drive the demand for global cryogenic fuels market in forecast period.
According to TechSci Research report, “Cryogenic Fuels Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Liquid Nitrogen, Liquid Air, Liquid Helium, Liquid Neon, Liquid Hydrogen, and Liquefied Natural Gas), By End Use Industry (Energy, Manufacturing, Aerospace, Healthcare, Chemical, and Others) and By Region”, the global cryogenic fuels market is expected to grow at a steady CAGR for the forecast period, 2022-2026. Cryogenic fuel majorly constitutes liquefied gases such as liquid hydrogen, liquid nitrogen, liquid helium, liquid air, and liquefied natural gas. The word cryogenic means relating to low temperature or producing which means the cryogenic liquid is kept at a very low temperature. The cryogenic liquid is divided into three main groups namely inert gas, flammable gas, and oxygen. These are stored and shipped in thermally insulated containers such as liquid dewar flasks, laboratory liquid dewar flasks, liquid cylinders. These cryogenic liquid containers are specifically designed to withstand extreme differences in temperature and changes in temperature. The high demand for cryogenic fuels from various end-user industries including chemical industries, healthcare, manufacturing, aerospace, and the power industry is expected to contribute to the surge in the global cryogenic fuels market growth in the next five years. The growing demand for industrial gases such as specialty gases, liquid oxygen, liquid nitrogen, compressed air & helium in the healthcare sector is influencing the demand of cryogenic fuels market. Liquid nitrogen is used for the cryogenic storage of body organs and blood bank storage units. High-end investments for the development of advanced technologies to reach outer space and to promote space exploration activities are accelerating the growth of the global cryogenic fuels market.
However, initial high-end investment for setting-up of cryogenic plants for bulk production may restrain the global cryogenic fuels market growth in the forecast period.
Browse XX Figures spread through XX Pages and an in-depth TOC on "Global Cryogenic Fuels Market”.
https://www.techsciresearch.com/report/cryogenic-fuels-market/7774.html
Global cryogenic fuels market is segmented into type, end use industry, regional distribution, and company. Based on type, the market can be divided into liquid nitrogen, liquid air, liquid helium, liquid neon, liquid hydrogen, and liquefied natural gas. The liquid air segment is expected to witness significant growth for the forecast period, 2022-2026. The technological advancements to use liquid air in different ways are fueling market growth. The use of liquid air in propellants to launch rockets that carry the broadcast, communication, and other satellites into space. Based on the end use industry, the market can be divided into energy, manufacturing, aerospace, healthcare, chemical, and others. The manufacturing segment is expected to account for major global cryogenic fuels market growth for the next five years. The rapid industrialization across the developing economies such as India, China, and Brazil have contributed to a surge in the set-up of manufacturing or production units of various prominent industry verticals including automotive, steel, consumer electronics, and others. Availability of raw material and low-cost labor is attracting foreign investments in developing economies.
Air Liquide S.A., Air Products and Chemicals, Inc., Air Water Inc., Messer Group Gmbh, Praxair Technology Inc., Advanced Gas Technologies Inc., Matheson Tri-Gas, Inc., Gulf Curyo, SOL Group, Norco, Inc. are the leading players operating in global cryogenic fuels market. Market players are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several cryogenic fuels manufacturers are coming up with their technologically advanced offerings.
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“Several economies are making high-end investments to promote research and development activities by establishing new research and testing facilities to advance in the field of biotechnology and pharmaceuticals to invent ways to use cryogenic fuels for different applications. The development of carbon capture technology to capture the greenhouse gases such as carbon dioxide, nitrogen oxides, sulfur dioxides released from the power plants and other industries to lower the adverse impact on the environment is expected to boost the demand for cryogenic fuels across the globe. The presence of innovative ways to use cryogenic fuels and the huge availability of cryogenic fuel over fossil fuel is expected to propel the demand for global cryogenic fuels market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Cryogenic Fuels Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Liquid Nitrogen, Liquid Air, Liquid Helium, Liquid Neon, Liquid Hydrogen, and Liquefied Natural Gas), By End Use Industry (Energy, Manufacturing, Aerospace, Healthcare, Chemical, and Others) and By Region” has evaluated the future growth potential of global cryogenic fuels market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global cryogenic fuels market.
Browse Related Reports
India Cryogenic Tanker Market By Product Type (Stationary Type, Trailer Type) By Application (Storage, Transportation) By Liquefied Gas (Nitrogen, Oxygen, Others) By End User (Healthcare, Food & Beverage, Petrochemical, Others) By Company, By Region, Forecast & Opportunities, FY2027
https://www.techsciresearch.com/report/india-cryogenic-tanker-market/7541.html
Global Cryogenic Tanker Market By Raw Material (Stainless Steel, Nickel Alloy, Aluminium, Others), By Liquid (Liquefied Natural Gas, Liquid Nitrogen, Liquid Oxygen, Liquid Hydrogen, Others), By Application (Storage, Transportation), By End User (Manufacturing, Healthcare, Food Industry, Energy & Power, Others), By Company, By Region, Forecast & Opportunities, 2026
https://www.techsciresearch.com/report/cryogenic-tanker-market/7452.html
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
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Cryogenic Fuels Market to be dominated by Manufacturing segment through 2026 | TechSci Research
Increasing demand for surface chilling process of food industry and growing aerospace industry is expected to drive the demand for global cryogenic fuels market in forecast period.
According to TechSci Research report, “Cryogenic Fuels Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Liquid Nitrogen, Liquid Air, Liquid Helium, Liquid Neon, Liquid Hydrogen, and Liquefied Natural Gas), By End Use Industry (Energy, Manufacturing, Aerospace, Healthcare, Chemical, and Others) and By Region”, the global cryogenic fuels market is expected to grow at a steady CAGR for the forecast period, 2022-2026. Cryogenic fuel majorly constitutes liquefied gases such as liquid hydrogen, liquid nitrogen, liquid helium, liquid air, and liquefied natural gas. The word cryogenic means relating to low temperature or producing which means the cryogenic liquid is kept at a very low temperature. The cryogenic liquid is divided into three main groups namely inert gas, flammable gas, and oxygen. These are stored and shipped in thermally insulated containers such as liquid dewar flasks, laboratory liquid dewar flasks, liquid cylinders.
These cryogenic liquid containers are specifically designed to withstand extreme differences in temperature and changes in temperature. The high demand for cryogenic fuels from various end-user industries including chemical industries, healthcare, manufacturing, aerospace, and the power industry is expected to contribute to the surge in the global cryogenic fuels market growth in the next five years. The growing demand for industrial gases such as specialty gases, liquid oxygen, liquid nitrogen, compressed air & helium in the healthcare sector is influencing the demand of cryogenic fuels market. Liquid nitrogen is used for the cryogenic storage of body organs and blood bank storage units. High-end investments for the development of advanced technologies to reach outer space and to promote space exploration activities are accelerating the growth of the global cryogenic fuels market.
However, initial high-end investment for setting-up of cryogenic plants for bulk production may restrain the global cryogenic fuels market growth in the forecast period.
Browse XX Figures spread through XX Pages and an in-depth TOC on "Global Cryogenic Fuels Market”.
https://www.techsciresearch.com/report/cryogenic-fuels-market/7774.html
Global cryogenic fuels market is segmented into type, end use industry, regional distribution, and company. Based on type, the market can be divided into liquid nitrogen, liquid air, liquid helium, liquid neon, liquid hydrogen, and liquefied natural gas. The liquid air segment is expected to witness significant growth for the forecast period, 2022-2026. The technological advancements to use liquid air in different ways are fueling market growth. The use of liquid air in propellants to launch rockets that carry the broadcast, communication, and other satellites into space
Based on the end use industry, the market can be divided into energy, manufacturing, aerospace, healthcare, chemical, and others. The manufacturing segment is expected to account for major global cryogenic fuels market growth for the next five years. The rapid industrialization across the developing economies such as India, China, and Brazil have contributed to a surge in the set-up of manufacturing or production units of various prominent industry verticals including automotive, steel, consumer electronics, and others. Availability of raw material and low-cost labor is attracting foreign investments in developing economies.
Air Liquide S.A., Air Products and Chemicals, Inc., Air Water Inc., Messer Group Gmbh, Praxair Technology Inc., Advanced Gas Technologies Inc., Matheson Tri-Gas, Inc., Gulf Curyo, SOL Group, Norco, Inc. are the leading players operating in global cryogenic fuels market. Market players are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several cryogenic fuels manufacturers are coming up with their technologically advanced offerings.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=7774
Customers can also request for 10% free customization on this report.
“Several economies are making high-end investments to promote research and development activities by establishing new research and testing facilities to advance in the field of biotechnology and pharmaceuticals to invent ways to use cryogenic fuels for different applications. The development of carbon capture technology to capture the greenhouse gases such as carbon dioxide, nitrogen oxides, sulfur dioxides released from the power plants and other industries to lower the adverse impact on the environment is expected to boost the demand for cryogenic fuels across the globe. The presence of innovative ways to use cryogenic fuels and the huge availability of cryogenic fuel over fossil fuel is expected to propel the demand for global cryogenic fuels market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Cryogenic Fuels Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Liquid Nitrogen, Liquid Air, Liquid Helium, Liquid Neon, Liquid Hydrogen, and Liquefied Natural Gas), By End Use Industry (Energy, Manufacturing, Aerospace, Healthcare, Chemical, and Others) and By Region” has evaluated the future growth potential of global cryogenic fuels market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global cryogenic fuels market.
Browse Related Reports:
India Cryogenic Tanker Market By Product Type (Stationary Type, Trailer Type) By Application (Storage, Transportation) By Liquefied Gas (Nitrogen, Oxygen, Others) By End User (Healthcare, Food & Beverage, Petrochemical, Others) By Company, By Region, Forecast & Opportunities, FY2027
https://www.techsciresearch.com/report/india-cryogenic-tanker-market/7541.html
Global Cryogenic Tanker Market By Raw Material (Stainless Steel, Nickel Alloy, Aluminium, Others), By Liquid (Liquefied Natural Gas, Liquid Nitrogen, Liquid Oxygen, Liquid Hydrogen, Others), By Application (Storage, Transportation), By End User (Manufacturing, Healthcare, Food Industry, Energy & Power, Others), By Company, By Region, Forecast & Opportunities, 2026
https://www.techsciresearch.com/report/cryogenic-tanker-market/7452.html
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com/
For More Market Research Blogs Visit: https://techsciblog.com/
#TechSci#Market Research Reports#Global Cryogenic Fuels Market#Oil & Gas#Cryogenic Fuels Market#Cryogenic Fuels Market Size#Cryogenic Fuels Market Forecast#Cryogenic Fuels
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Cryogenic Fuels Market to be dominated by Manufacturing segment through 2026 | TechSci Research
Increasing demand for surface chilling process of food industry and growing aerospace industry is expected to drive the demand for global cryogenic fuels market in forecast period.
According to TechSci Research report, “Cryogenic Fuels Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Liquid Nitrogen, Liquid Air, Liquid Helium, Liquid Neon, Liquid Hydrogen, and Liquefied Natural Gas), By End Use Industry (Energy, Manufacturing, Aerospace, Healthcare, Chemical, and Others) and By Region”, the global cryogenic fuels market is expected to grow at a steady CAGR for the forecast period, 2022-2026. Cryogenic fuel majorly constitutes liquefied gases such as liquid hydrogen, liquid nitrogen, liquid helium, liquid air, and liquefied natural gas. The word cryogenic means relating to low temperature or producing which means the cryogenic liquid is kept at a very low temperature. The cryogenic liquid is divided into three main groups namely inert gas, flammable gas, and oxygen. These are stored and shipped in thermally insulated containers such as liquid dewar flasks, laboratory liquid dewar flasks, liquid cylinders.
These cryogenic liquid containers are specifically designed to withstand extreme differences in temperature and changes in temperature. The high demand for cryogenic fuels from various end-user industries including chemical industries, healthcare, manufacturing, aerospace, and the power industry is expected to contribute to the surge in the global cryogenic fuels market growth in the next five years. The growing demand for industrial gases such as specialty gases, liquid oxygen, liquid nitrogen, compressed air & helium in the healthcare sector is influencing the demand of cryogenic fuels market. Liquid nitrogen is used for the cryogenic storage of body organs and blood bank storage units. High-end investments for the development of advanced technologies to reach outer space and to promote space exploration activities are accelerating the growth of the global cryogenic fuels market.
However, initial high-end investment for setting-up of cryogenic plants for bulk production may restrain the global cryogenic fuels market growth in the forecast period.
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Global cryogenic fuels market is segmented into type, end use industry, regional distribution, and company. Based on type, the market can be divided into liquid nitrogen, liquid air, liquid helium, liquid neon, liquid hydrogen, and liquefied natural gas. The liquid air segment is expected to witness significant growth for the forecast period, 2022-2026. The technological advancements to use liquid air in different ways are fueling market growth. The use of liquid air in propellants to launch rockets that carry the broadcast, communication, and other satellites into space
Based on the end use industry, the market can be divided into energy, manufacturing, aerospace, healthcare, chemical, and others. The manufacturing segment is expected to account for major global cryogenic fuels market growth for the next five years. The rapid industrialization across the developing economies such as India, China, and Brazil have contributed to a surge in the set-up of manufacturing or production units of various prominent industry verticals including automotive, steel, consumer electronics, and others. Availability of raw material and low-cost labor is attracting foreign investments in developing economies.
Air Liquide S.A., Air Products and Chemicals, Inc., Air Water Inc., Messer Group Gmbh, Praxair Technology Inc., Advanced Gas Technologies Inc., Matheson Tri-Gas, Inc., Gulf Curyo, SOL Group, Norco, Inc. are the leading players operating in global cryogenic fuels market. Market players are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several cryogenic fuels manufacturers are coming up with their technologically advanced offerings.
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“Several economies are making high-end investments to promote research and development activities by establishing new research and testing facilities to advance in the field of biotechnology and pharmaceuticals to invent ways to use cryogenic fuels for different applications. The development of carbon capture technology to capture the greenhouse gases such as carbon dioxide, nitrogen oxides, sulfur dioxides released from the power plants and other industries to lower the adverse impact on the environment is expected to boost the demand for cryogenic fuels across the globe. The presence of innovative ways to use cryogenic fuels and the huge availability of cryogenic fuel over fossil fuel is expected to propel the demand for global cryogenic fuels market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Cryogenic Fuels Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Liquid Nitrogen, Liquid Air, Liquid Helium, Liquid Neon, Liquid Hydrogen, and Liquefied Natural Gas), By End Use Industry (Energy, Manufacturing, Aerospace, Healthcare, Chemical, and Others) and By Region” has evaluated the future growth potential of global cryogenic fuels market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global cryogenic fuels market.
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Latest Renewable Energy News update & Conventional | Energetica India Magazine
Birla Carbon Plans Net Zero Carbon Emissions by 2050
Birla Carbon one of the leading manufacturers of carbon black globally, has announced its intent to bring down its net carbon emissions to zero by 2050. The announcement is seen as a natural progression in Birla Carbon's leadership in the area of Sustainability and circularity. Birla Carbon recently announced the availability of Sustainable Carbonaceous Materials (SCM) through the launch of its Continua™ brand.
Birla Carbon's net zero announcement aligns with The Paris Agreement, signed as part of the United Nations Framework Convention on climate-change mitigation, adaptation, and finance. It also aligns with the World Business Council for Sustainable Development's Tire Industry Project SDG Roadmap aimed at addressing health and environmental impacts associated with the life cycle impact of tires towards a sustainable future. Within the Aditya Birla Group, Birla Carbon is collaborating with sister companies to develop decarbonization initiatives through the Aditya Birla Science and Technology Center.
Over 160 years of extraordinary innovation in the carbon black industry coupled with decades of focus on achieving Sustainability makes this net zero goal not just aspirational, but achievable. Creating a league of partnerships with leading sustainability solution providers, Birla Carbon is exploring new and advanced technologies that will be used to achieve its goal. Birla Carbon will also reference the Science-Based Target Initiative (SBTi). Over the next 12 months, Birla Carbon will commit to evaluate and release interim targets that are in alignment with the SBTi.
Sharing his thoughts on this announcement, Dr. Santrupt B. Misra, Group Director, Carbon Black; Director, Chemicals and Director, Group HR, Aditya Birla Group, shared, "Climate change is the biggest challenge we face today as a human race, and the burden of it will be carried by our future generations, unless we choose differently. By setting its aspiration to be Net-Zero by 2050, Birla Carbon is making its choice with the rest of the industries that have chosen to step up to the challenge." He further added, "Sustainability has always been a key driver and a symbol of our success. We will focus on Sustainable Operational Excellence (SOE), combined with sustainable materials for our customers, and many more solutions to make our aspiration a reality in the years to come. Birla Carbon is rooted in its Purpose to – 'Share the Strength', and we hope that our peers and the industry at large, recognize our efforts and partner with us. I wish the entire leadership team the very best as they begin this journey."
Speaking at the announcement, John Loudermilk, Chief Executive Officer, Birla Carbon, said, "All businesses have a responsibility to drive improvements for the global environment; however, only by working hand-in-hand with our customers, suppliers, and partners through the supply chain can we truly build a greener and brighter future." He further added, "By the nature of our business, we at Birla Carbon have our own carbon stewardship responsibility and we are choosing to lead through bold commitment and industry-first initiatives for a more sustainable tomorrow. Our aim is to constantly innovate and evolve our capabilities through our purpose, 'Share the Strength', to have a positive impact on the ecosystem and society at large."
Commenting on the announcement, Joe Gaynor, Chief Sustainability Officer, Birla Carbon, said, "As a responsible industry leader, Birla Carbon is fully committed to help mitigate the effects of climate change. For us, it was never a question of if, but when? We already laid the foundation for this commitment, some of which can be seen through our sustainability and circularity efforts over recent years." He further adds, "The launch of Continua™ 8000, a Sustainable Carbonaceous Material, opened our doors to the possibility of a net zero world. We are confident we will achieve this goal along with our customers."
Birla Carbon will focus on all three scopes in the measurement, reduction, and offsetting of carbon emissions. A majority of its carbon footprint reduction is expected to come from Scope 1 and 2 based on its direct and indirect emission reduction initiatives. A smaller portion of its reduction will come from scope 3 based on the operations of upstream and downstream industries in the value chain.
Birla Carbon's goal of net zero carbon emission by 2050 will be achieved by focusing on four over-arching segments. These 4R segments are;
A significant part of Birla Carbon's net zero target will come from future technologies that will capture and convert carbon dioxide into valuable carbon products. Birla Carbon will focus on the investment and development of such technologies and assets.
Emphasis on process efficiencies that will convert carbon to carbon black. In addition, Birla Carbon will continue to prioritize energy efficiencies throughout its operations. To date, 80% of its manufacturing facilities are housing co-generation facilities for conversion of waste gases to energy for export to the electrical grid.
Some Birla Carbon locations have introduced renewable energy sources to power parts of their facilities; the focus moving forward will be on adding renewable energy solutions towards Leadership in Energy and Environmental Design (LEED) certification.
Birla Carbon is also pursuing the development of new process technologies that will shift a portion of its production to include alternate feedstocks derived from biomass as a key contributor to net zero.
Through its Continua™ brand, Birla Carbon will lead sustainability and circularity programs at scale, enabling our customers to develop the next generation of sustainable products. For example, Birla Carbon recently announced the availability of low-carbon footprint Sustainable Carbonaceous Materials (SCM) through the launch of its brand Continua™, a game-changer for the industry.
Birla Carbon is in the process of mapping its existing and future technologies. The next steps will be the development of partnerships with customers and suppliers, engage experts, and create long-term associations and programs, including its collaboration within the Aditya Birla Group, to achieve the goal of net zero carbon emissions by 2050.
Get the latest news about renewable energy & solar energy, views & updates from everywhere in India on Energetica. Covering latest Industry information on Indian Solar, Wind, Hydro, EV & other Conventional Power News, Views, Opinion of the think-tankers.
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Cryogenic Pumps Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
Cryogenic Pumps Market: Overview
A cryogenic pump is a vacuum pump that captures gas through surfaces, which are cooled to temperatures below 120K (Kelvin). These pumps offer vacuum pumping methods of choice for several high-vacuum and ultra-high-vacuum applications due to their high pumping speeds, cleanliness, and reliability. They can pump almost all gases, including noble gases, at lower temperatures.
Cryogenic Pumps Market: Drivers & Restraints
The cryogenic pumps market is primarily driven by factors such as increase in use of gases across health care and bioscience facilities and increasing investments in the energy & power sector. Moreover, rising investments in electrical & electronics and oil & gas sectors are also projected to fuel the cryogenic pumps market during the forecast period. However, reduction in steel production hinders the global cryogenic pumps market, as large amounts of industrial gases such as argon, helium, oxygen, and nitrogen are involved in the manufacture of steel and these gases are transported by using cryogenic pumps.
Cryogenic Pumps Market: Key Segments
The global cryogenic pumps market can be segmented based on type, gas, end-user, and region. In terms of type, the global cryogenic pumps market can be divided into centrifugal displacement and positive displacement. The positive displacement segment is expected to witness growth at the maximum rate during the forecast period. A positive displacement pump is a device that transfers liquids by holding a certain volume of the liquid and displacing it into another pipe. Growing adoption of positive displacement pumps in various end-use industries, such as health care and electricals & electronics, is driving the global cryogenic pumps market.
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Based on gas, the cryogenic pumps market can be segmented into nitrogen, hydrogen, argon, LNG, and others. In 2017, the hydrogen segment accounted for the maximum share of the global cryogenic pumps market and is anticipated to maintain its dominance throughout the forecast period. On the other hand, LNG is expected to be the rapidly expanding segment during the forecast period. This can be attributed to increasing use of LNG for power generation in the energy & power industry and growing usage of oil tankers for transportation in the shipbuilding industry.
In terms of end-user, the cryogenic pumps market can be segmented into chemical, health care, energy & power generation, electricals & electronics, metallurgy, and others. The health care segment is expected to register the maximum growth rate during the forecast period. This is primarily because gases such as oxygen, nitrogen, hydrogen, and nitrous oxide and gas mixtures are widely used for medical purposes, research in biotechnology, and drug processing. Cryogenic pumps are utilized to transfer a gas from the transportation system to the storage vessel as a compressed gas. These pumps are also employed to create required high vacuum in proton therapy systems, which are used in the treatment of cancer in order to irradiate the diseased tissue.
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Cryogenic Pumps Market: Regional Outlook
Based on region, the global cryogenic pumps market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific led the global cryogenic pumps market in 2017, followed by North America. The global cryogenic pumps market in Asia Pacific is expected to expand at the highest CAGR during the forecast period. High investments in the infrastructure sector and increase in focus on renewable-based electricity generation in Asia Pacific are expected to provide substantial growth opportunities to the global cryogenic pumps market in the region in the next few years. China, India, Japan, and South Korea are major contributors to the global cryogenic pumps market in the region. Europe is another major global cryogenic pumps market. The region is witnessing a shift toward eco-friendly fuel sources such as LNG in order to reduce carbon emissions. This is likely to boost the global cryogenic pumps market in the region during the forecast period.
Cryogenic Pumps Market: Key Players
Key companies operating in the global cryogenic pumps market are Brooks Automation Inc., Linde Group, Ebara Corporation, Nikkiso Co. Ltd., Fives S.A., Flowserve Corporation, Global Tech India Pvt. Ltd., PHPK Technologies Inc., Sumitomo Heavy Industries Ltd., and Technex Limited.
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Companies in the Cryogenic Pumps market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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Liquefied Natural Gas (LNG) Market Outlook, Competitive Strategies Analysis and Forecast till 2025
August 25, 2021: The global Liquefied Natural Gas (LNG) Market is projected to reach US$ 20.6 billion by 2025 with a CAGR of 12.7% during the completion of the prediction period. Liquefied Natural Gas implies a collection of gases, largely of methane and additional gases for example Nitrogen, Propane, Butane, and Ethane. It has been chilled to a state of liquid. It is stored at a temperature of approx. -260° Fahrenheit, for the purpose of storing and transport. The size of natural gas, in the form of its liquid condition, is around 600 times lesser than the size of its gasiform state. This procedure makes it possible to carrying natural gas to the locations where the pipelines are not reachable.
Wherever the transportation of the natural gas, by way of pipeline, is not possible it is carried in its liquefying state, for a lengthier distance to those marketplaces, which are excessively far away from the areas of production and cannot be directly connected to the pipelines. The natural gas is able to be transported in specific tankers to the depots all over the world, in its compacted liquid form. At these stations, the liquefied natural gas is reverted to its gassy state and conveyed by way of pipeline to plants of power generation, supply companies, and industrialized customers.
Aimed at huge capacity marine transportation, liquefied natural gas is laden on ships having dual body. These are utilized for insulation and safety purposes together. When the ship reaches at the delivery harbor, liquefied natural gas is relieved of into finely protected storing tanks, and then again gasified for entering into the grid of pipeline circulation.
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It can, likewise be transported in lesser capacities, frequently over smaller marine distances. There is an increasing use of lesser scale deliveries of liquefied natural gas. These are, most frequently, completed utilizing the similar vessels on trucks and in transnational trade, particularly prepared with cryogenic containers.
This natural gas is utilized in a number of businesses comprising rotary kilns, manufacturing, fluid bed dryers, construction, sector of power generation, mining, food processing, furnaces, and dairy products. Apart from businesses, owing to low percentage of release of carbon, it is likewise utilized as an alternate fuel in a number of transportation methods for example vehicles run on natural gas, ships, trucks, and rails. It is likewise utilized by domestic consumers for the purpose of heating and cooking.
Drivers and Restraints:
The global liquefied natural gas market is estimated to propagate by way of increasing consumption of energy, increasing municipal inhabitants, growing demand for natural gas-powered automobiles, fast-tracking of financial development, and growing inclination for liquefied natural gas in emerging financial prudence.
Important inclinations and developments of this market comprise growing export of this natural gas, additions of capacities, mounting demand for liquefied natural gas bunkering, rolling developments, increasing commercial market and growing change in the direction of modular equipment.
Classification:
The global liquefied natural gas industry can be classified by End Users and Region. By End Users, it can be classified as Industrial, Power Generation, and others.
Regional Lookout:
By Region, the global LNG market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific has appeared as the most important area for the liquefied natural gas owing to growing capability of liquefaction and exports, along with growing imports by South Korea, China, and India.
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Companies:
Some of the important companies for liquefied natural gas market are Chevron Corporation, Exxon Mobil Corporation, British Petroleum Plc, Royal Dutch Shell Plc., CNOOC, China National Petroleum, Veresen Inc., Qatar Petroleum, Dominion Resources, Cheniere Energy, BG Group plc, Sinopec Group, Woodside Petroleum, Sempra Energy, Kinder Morgan, ConocoPhillips, Apache Corporation, and Qatar gas Operating Company.
Market Segment:
LNG Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Power Generation
• Transportation Fuel
• Mining & Industrial Applications
LNG Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• France
• UK
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• UAE
• Qatar
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Cryogenic Pumps Market - Technological breakthroughs, Value chain and stakeholder analysis by 2026
Cryogenic Pumps Market: Overview
A cryogenic pump is a vacuum pump that captures gas through surfaces, which are cooled to temperatures below 120K (Kelvin). These pumps offer vacuum pumping methods of choice for several high-vacuum and ultra-high-vacuum applications due to their high pumping speeds, cleanliness, and reliability. They can pump almost all gases, including noble gases, at lower temperatures.
Cryogenic Pumps Market: Drivers & Restraints
The cryogenic pumps market is primarily driven by factors such as increase in use of gases across health care and bioscience facilities and increasing investments in the energy & power sector. Moreover, rising investments in electrical & electronics and oil & gas sectors are also projected to fuel the cryogenic pumps market during the forecast period. However, reduction in steel production hinders the global cryogenic pumps market, as large amounts of industrial gases such as argon, helium, oxygen, and nitrogen are involved in the manufacture of steel and these gases are transported by using cryogenic pumps.
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Cryogenic Pumps Market: Key Segments
The global cryogenic pumps market can be segmented based on type, gas, end-user, and region. In terms of type, the global cryogenic pumps market can be divided into centrifugal displacement and positive displacement. The positive displacement segment is expected to witness growth at the maximum rate during the forecast period. A positive displacement pump is a device that transfers liquids by holding a certain volume of the liquid and displacing it into another pipe. Growing adoption of positive displacement pumps in various end-use industries, such as health care and electricals & electronics, is driving the global cryogenic pumps market.
Based on gas, the cryogenic pumps market can be segmented into nitrogen, hydrogen, argon, LNG, and others. In 2017, the hydrogen segment accounted for the maximum share of the global cryogenic pumps market and is anticipated to maintain its dominance throughout the forecast period. On the other hand, LNG is expected to be the rapidly expanding segment during the forecast period. This can be attributed to increasing use of LNG for power generation in the energy & power industry and growing usage of oil tankers for transportation in the shipbuilding industry.
In terms of end-user, the cryogenic pumps market can be segmented into chemical, health care, energy & power generation, electricals & electronics, metallurgy, and others. The health care segment is expected to register the maximum growth rate during the forecast period. This is primarily because gases such as oxygen, nitrogen, hydrogen, and nitrous oxide and gas mixtures are widely used for medical purposes, research in biotechnology, and drug processing. Cryogenic pumps are utilized to transfer a gas from the transportation system to the storage vessel as a compressed gas. These pumps are also employed to create required high vacuum in proton therapy systems, which are used in the treatment of cancer in order to irradiate the diseased tissue.
Cryogenic Pumps Market: Regional Outlook
Based on region, the global cryogenic pumps market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific led the global cryogenic pumps market in 2017, followed by North America. The global cryogenic pumps market in Asia Pacific is expected to expand at the highest CAGR during the forecast period. High investments in the infrastructure sector and increase in focus on renewable-based electricity generation in Asia Pacific are expected to provide substantial growth opportunities to the global cryogenic pumps market in the region in the next few years. China, India, Japan, and South Korea are major contributors to the global cryogenic pumps market in the region. Europe is another major global cryogenic pumps market. The region is witnessing a shift toward eco-friendly fuel sources such as LNG in order to reduce carbon emissions. This is likely to boost the global cryogenic pumps market in the region during the forecast period.
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Cryogenic Pumps Market: Key players
Key companies operating in the global cryogenic pumps market are Brooks Automation Inc., Linde Group, Ebara Corporation, Nikkiso Co. Ltd., Fives S.A., Flowserve Corporation, Global Tech India Pvt. Ltd., PHPK Technologies Inc., Sumitomo Heavy Industries Ltd., and Technex Limited.
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WHAT IS MEANT BY SHIPPING OPERATIONS?
Shipping trade is an important part of the world freight installation. The trade accounts for transporting ninetieth of the planet trade. It’s the foremost reasonable and economical mode of transporting merchandise, given the big volume of products these vessels will carry for long distances at a fraction of a price of alternative modes of transport like rail, roads, air etc. Shipping caters to international trade supply-chain, enabling transport of raw materials in bulk, import/export of food merchandise, finished/semi-finished merchandise etc. The world shipping trade has faced sturdy headwinds due to the retardation in world economy post-2008 crisis. The shipping crisis peaked in 2015 & 2016 due to excess capability ordered throughout sturdy market conditions. As a result, trade has witnessed massive scale consolidation globally. Shipping operations are generally divided into 2 classes – sea shipping that caters to transport merchandise between regions and continents. This requires massive vessels moving an immense volume of products across continents. The sole competitive mode of transport in airways that don't price economical. Short-sea shipping that caters to the transportation of products at intervals the region. This principally entails moving merchandise at intervals to the selected region or short routes at intervals. There aren’t any direct competitors of deep ocean shipping however short-sea shipping competes with alternative modes of transport like rail and road. With road network in the Republic of India rising at a fast pace, the short-sea shipping chance would still grow at a slower pace. Coastal shipping just in case of the Republic of India would be associate degree example of short-sea shipping.
Vessels are classified by cargo-type and size:
Bulk carriers: the majority carriers transport massive parcels of raw materials, general shipment and ponderous semi-manufactured merchandise. Bulk vessels handle few transactions, usually finishing concerning 6-7 voyages with one shipment every year. Their average revenue depends on a dozen of negotiations per ship every year. The service levels are typically low for these styles of ships and therefore have very little overheads. Coal, iron ore, cement etc. are few industries that use the services of bulk shipping management course in Kerala.
Tankers: Tankers are vessels accustomed to transport or store liquids or gases in bulk. Major tank ships embody crude tankers, product tankers (clean oil, LPG, LNG, chemicals, hydrogen, oil, wine) etc. These vessels need the shipment to be pumped up into and out of the vessels which need dedicated facility which incorporates onshore storage at ports. Tanker comes in different sizes.
instrumentality shipping: instrumentality shipping- because the name suggests, uses containers of assorted sizes within which the products to be transported are packed and placed. The unit usually accustomed live the number of products carried through instrumentality shipping is Twenty Foot Equivalent Unit or TEU, however, containers are available in varied sizes- twenty foot, 40 foot, 45 foot, 48 foot, and fifty-three foot.
Specialized Vessels: specialized vessels are accustomed to performing a dedicated task for offshore operations and pairing alternative vessels. a number of the vessels even have onboard equipment to perform varied tasks associated with the maritime trade. Ice-breakers, cable birth vessels, field support vessels, tug-boats etc are the common variety of special vessels.
Chartering: Chartering is that the activity in shipping trade wherever the charterer or a user hires the services of a vessel/ship from a shipowner. tho’ larger businesses might value more highly to charter ships, others with lesser merchandise to be transported take the services of freight forwarders UN agency mixture more little orders of shipments so transport those merchandise by chartering a ship. styles of leasing There are 3 main styles of chartering underneath that vessels are chartered by a charterer or employer from a shipowner: –
Vessel charter underneath that the employer takes the whole responsibility of the vessel and in most cases by the top of the chartering term, the employer purchases the vessel from the owner. This sort of chartering is common just in case of tankers and bulk carriers, and charterers are largely refinement corporations or trade goods majors.
Voyage Chartering: The charterer pays freight on per day basis for victimization the vessel and therefore the owner of the vessel is chargeable for paying all the obligatory dues, worker prices and fuel prices, excluding the value of loading unloading of products.
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North America to Dominate the Global Cryogenic Tanker Market till 2026 – TechSci Research
High consumption of LNG gas and expansion of healthcare sector is expected to drive the demand for global cryogenic tanker market in the forecast period.
According to TechSci Research report, “Global Cryogenic Tanker Market By Raw Material (Stainless Steel, Nickel Alloy, Aluminium, Others), By Liquid (Liquefied Natural Gas, Liquid Nitrogen, Liquid Oxygen, Liquid Hydrogen, Others), By Application (Storage, Transportation), By End User (Manufacturing, Healthcare, Food Industry, Energy & Power, Others), By Company, By Region, Forecast & Opportunities, 2026”, global cryogenic tanker market is expected to witness steady growth for the next five years. Prominent industries such as food and beverage industry, metal and fabrication industry, electronic industry require cryogenic tankers to store industrial gases including nitrogen, carbon dioxide, among others for various applications in industrial premises. Cryogenic tankers are used for the transportation of liquid cryogens consisting of liquid oxygen, liquid nitrogen, liquid natural gas, and liquid hydrogen liquid to a customer site. Cryogenic tankers are made systematically to fit into open bed trucks and enclosed vehicles. Increase in usage of cryogenic liquid among chemical plants and laboratories and high demand for cryogenic tankers for transportation of frozen food and beverages is a major driver for the growth of the global cryogenic tankers market.
However, high capital requirements and chances of leakage from cryogenic tankers may create hindrance in the cryogenic tanker market growth.
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Global cryogenic tanker market is segmented into raw material, liquid, application, end user, regional distribution, and company. Based on liquid, the market is further divided into liquefied natural gas, liquid nitrogen, liquid oxygen, liquid hydrogen, and others. Liquid nitrogen segment is expected to account for the major market share for the forecast period, 2022-2026. Liquid nitrogen is majorly used in electronic industry for manufacturing and testing process. It is used to create inert environment for metals to prevent the reaction with oxygen to avoid formation of undesirable oxides as end products. Liquid nitrogen depending upon the type of application and end user is stored and shipped in different containers. The most used containers are cryogenic tankers. Surgeries requiring the use of liquid nitrogen are considered effective and are termed as successful. Liquid nitrogen is also used to remove cancer tissues from the suffering patients. Based on application, the market is bifurcated into storage and transportation. Storage segment is expected to dominate the market throughout the forecast period. Increase in on-site designed storage facilities to store liquified natural gas and industrial gases is expected to fuel the demand for cryogenic tankers. Liquified natural gases and industrial gases are stored in cryogenic tankers at trading terminals, on-site industrial facilities, and liquefaction facilities. Continuous technological evolution is expected to accelerate the cryogenic tankers demand for the forecast period. Based on end user, the market is categorized into manufacturing, healthcare, food industry, energy & power, and others. Manufacturing sector is expected to hold major market share during the forecast period. Rising population around the globe is increasing the need for more industries to cater the requirements of growing population. Increasing infrastructural development in developed economies such as North America and commencement of Industry 4.0 in Europe coupled with technology advancements by manufacturers to increase the product demand is influencing the market demand. Liquid nitrogen is used majorly in construction and manufacturing industries to balance the working environment by lowering the temperature. Cryogenic liquid is rotated through the chillers to maintain the temperature in industries.
Chart Industries, Inc., Cryofab Inc, INOX India Pvt. Ltd., Linde PLC, Air Water Inc., Wessington Cryogenics Ltd., Super Cryogenic Systems Pvt Ltd., FIBA Technologies, Inc., Suretank Group Ltd., Eden Cryogenic LLC are the leading players operating in the global cryogenic tanker market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several cryogenic tanker manufacturers are coming up with their technologically advanced offerings.
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“Asia-pacific region is expected to witness fastest incremental growth during the forecast period. Availability of raw materials and presence of low-cost labor are the primary factors to make Asia-pacific the most preferred regional choice for cryogenic tanker manufacturers. Government initiatives for the promotion of energy and power industry is creating huge possibilities for the growth of cryogenic tankers market. APAC region boasts of one of the largest consumers of liquefied natural gas, and high demand for industrial gases from major industries is expected to propel the cryogenic tankers market growth until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Cryogenic Tanker Market By Raw Material (Stainless Steel, Nickel Alloy, Aluminium, Others), By Liquid (Liquefied Natural Gas, Liquid Nitrogen, Liquid Oxygen, Liquid Hydrogen, Others), By Application (Storage, Transportation), By End User (Manufacturing, Healthcare, Food Industry, Energy & Power, Others), By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of global cryogenic tanker market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global cryogenic tanker market.
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Use of carbon dioxide storage tanks
Carbon dioxide storage tanks are important equipment in carbon dioxide storage and vaporization equipment projects. A complete process is as follows: After the tanker is opened to the loading and unloading station, the gas phase , liquid phase tubes of the tank and the tank truck are connected, and the carbon dioxide can be transferred to the tank by using the tank pump. The carbon dioxide in the storage tank is stored in a liquid state of -23 ° C - -30 ° C. The liquid carbon dioxide stored in the storage tank is vaporized by the vaporizer, and then decompressed through a pressure reducing valve and sent to the application workshop; if necessary or otherwise used, carbon dioxide can be poured into the cylinder. The use of carbon dioxide storage tanks: Liquid carbon dioxide storage tanks are storage pressure vessels for storing liquid carbon dioxide and other media. High purity gases are required in steel mills, hospitals, gas production plants, food and beverage, welding and other industries. It is economical and safer to inflate than high-pressure cylinders and can reduce the cost of gas.
TRIUMPH specializes in providing carbon dioxide storage tanks, has accumulated decades of manufacturing experience in China, and now also cooperates with many demanders in Southeast Asia, India, Malaysia, etc. to provide high quality cryogenic storage tanks for more users. Welcome to visit us. Find the tank you need on the website.
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Global LNG Bunkering Market Will Reach USD 11899.60 Million by 2024: Zion Market Research
Zion Market Research has published a new report titled “LNG Bunkering Market by Vessel (Tankers, Container Ships, Bulk & General Cargo Vessels, and Ferries & Offshore Support Vessels), by Product Type (Portable Tanks, Ship-to-Ship, Port-to-Ship, and Truck-to-Ship): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global LNG bunkering market was valued at approximately USD 397.70 million in 2017 and is expected to generate revenue of around USD 11899.60 million by the end of 2024, growing at a CAGR of around 59.4% between 2018 and 2024.
Growing number of vessels using LNG (Liquefied Natural Gas) owing to the need for cleaner fuels in compliance with the stringent government regulations in order to reduce chemical emissions and maintain sustainability is the main driver that is boosting the growth of the LNG bunkering market. International Maritime Organization (IMO) in 2012, expressed that boats must reduce their sulfur content in fuel from 4.5% to 3.5% in order to reduce air pollution. Different end-users have started replacing the conventional and traditional fuels because of two reasons. First, to reduce the emission of greenhouse gases into the atmosphere and the second factor is the cost-effectiveness. Nowadays, people are substituting natural gas with LNG because it is economical and cheaper. Also, LNG has high combustion effectiveness, it is easy to redeploy and because of its lower volume density, LNG is relatively easier to transport. This has prompted the widespread response of LNG across over different enterprises, prompting dispatching of different new LNG plants around the world, thus making an exceedingly favorable market for LNG bunkering.
Browse through 49 Tables & 18 Figures spread over 110 Pages and in-depth TOC on”Global LNG Bunkering Market: By Types, Industry Size, Share, Trends and Forecast, 2017 – 2024”.
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Moreover, formulating rules and standards are driving structural growth in the uptake of LNG as a shipping fuel. These regulations are implemented through the IMO’s International Convention for the Prevention of Pollution from ships. Certain regions have likewise assigned stricter emission rules. Other than air quality measure, the IMO is additionally introducing devices to monitor, screen, and substantially reduce GHG (Greenhouse Gas) emissions from ships. Such factors are expected to drive the LNG bunkering market growth over the forecast period.
The LNG bunkering market is segmented on the basis of the vessel which includes tankers, container ships, bulk & general cargo vessels, and ferries & offshore support vessels. Ferries and off-shore support vessels segment held major revenue share in 2017. The growth is attributed due to offshore exploration, sea trade, and production activities happening across the globe. This crucial factor will drive the growth of the market.
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Based on product type, LNG bunkering market has been categorized into portable tanks, ship-to-ship, port-to-ship, and truck-to-ship. Ship-to-Ship is expected to contribute a significant revenue share in the coming years. The growth is because ship-to-ship operations are feasible for all types of vessels and because of feasibility; it has advantages such as transfer operations in ship-to-ship can be done quickly and it has a high capacity of storage which is approx. about 800-7500 tons.
Europe held substantial revenue share of the global LNG bunkering market in 2017 and the region is anticipated to continue with its regional supremacy over the forecast time period. The growth of this regional market is attributed because Norway is considered to be the biggest bunking center, as it offers more than 18,000 LNG bunk stations. Additionally, rising uncertainties for limiting the natural effect and expanding ventures towards reconstructing and updating LNG foundation is foreseen to additionally support the development of LNG bunkering market in Europe. In 2017, the European Union (EU) states affirmed the European Commission’s proposition of contributing USD 24.18 million to create productive and supportable transportation for LNG bunkering.
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Asia Pacific region is predicted to provide significant opportunities for LNG bunkering. The region is a manufacturing hub. Because of this, the manufacturing and production activities in this region have a demand for energy. As indicated by International Energy Agency, the energy demand from Southeast Asia from 2000 to 2013 had expanded by more than 50%. The Oceanic and Port Authority of Singapore reported of investing capital of USD 1.45 million for construction of six vessels under a program in 2017, in order to examine the strategies for activities and security conventions which are required for LNG bunkering. Such initiatives are anticipated to drive LNG bunkering market growth in the Asia Pacific region over the forecast timeframe.
North America is predicted to hold a significant share in the market growth during the forecasted time period. The growth is anticipated due to ongoing shale production and its development with strict emission rules which are being set by the government. This will enhance the market growth in the region.
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Some of the industry players operating in the LNG bunkering market include Skangas, Korea Gas Corporation, Harvey Gulf International Marine LLC, Fjord Line, Polskie LNG, Royal Dutch Shell Plc., ENN Energy, Prima LNG, Bomin Linde LNG GmbH & Co KG, and Crowley Maritime Corporation, among others.
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This report segments the global LNG bunkering market as follows:
Global LNG Bunkering Market: Vessel Segment Analysis
Tankers
Container Ships
Bulk & General Cargo Vessels
Ferries & Offshore Support Vessels
Global LNG Bunkering Market: Product Type Segment Analysis
Portable Tanks
Ship-to-Ship
Port-to-Ship
Truck-to-Ship
Global LNG Bunkering Market: Regional Segment Analysis
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
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